Although silver hit an 11-month low on Wednesday, Arabian Money’s Peter Cooper explains in a SilverSeek article, “Why we are sticking with silver as our top pick for 2012,” and Got Gold Report‘s Gene Arensberg describes Comex silver futures as being “near extreme bullish levels,” based on the latest COT report: “This is the least net short silver futures for the combined commercial traders in a decade. We can say that as of December 20, 2011, the usual Big Sellers of silver futures, as a group, were about as confident of silver falling to lower levels as they were a decade ago with silver then trading at $4.20. The current LCNS condition is rare. We have only witnessed such low readings of LCNS two times in a decade.”